The Analytical Overview of the Main Currency Pairs on 2017.12.28

The EUR/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.18581

Open: 1.18950

% chg. over the last day: +0.34

Day's range: 1.19285 – 1.19376

52 wk range: 1.0341 – 1.2069

The demand for the US dollar is falling. Yesterday by the end of trading, the EUR/USD currency pair showed the growth. Today, the EUR/USD quotes continue to grow. The key trading range on the currency pair is 1.18850-1.19500. The 1.18850 mark is already a "mirror" support. We are waiting for the publication of important economic reports. We recommend you to look for entry points to the market from the level of 1.19200.

The news feed on 2017.12.28:

- The ECB report in the Eurozone at 11:00 (GMT+2:00);

- The balance of foreign trade in goods in the US at 15:30 (GMT+2:00);

- The number of initial jobless claims in the US at 15:30 (GMT+2:00);

- Crude oil inventories in the US at 18:00 (GMT+2:00).

The signals of the indicators are different. The price has fixed above 50 MA and 200 MA, which indicates the power of buyers.

The MACD histogram is in the positive zone and above the signal line, which signals the bullish sentiment on EUR/USD.

Stochastic Oscillator is in the overbought zone, the %K line is crossing the %D line. There are no signals at the moment.

Trading recommendations

Support levels: 1.18850, 1.18350

Resistance levels: 1.19500

If the price fixes above the level of 1.19500, we recommend considering purchases of EUR/USD. The movement is tending potentially to 1.19900-1.20100.

Alternative option. If the price fixes below the average level of 1.19200, you need to look for entry points to the market to open short positions. The movement is tending potentially to 1.18600-1.18400.

The GBP/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.33736

Open: 1.33960

% chg. over the last day: +0.38

Day's range: 1.34459 – 1.34545

52 wk range: 1.1450 – 1.3618

There is an uptrend on the GBP/USD currency pair. Participants of the financial markets expect statistics from the US. If the statistics turns out to be positive, then the GBP/USD quotes may drop. We recommend opening positions from key levels.

The publication of important statistics on the UK economy is not planned. We recommend you to pay attention to the news feed on the US economy.

The signals of the indicators are ambiguous. The price has fixed above 50 MA and 200 MA, which indicates the power of buyers.

The MACD histogram is in the positive zone, above the signal line, which signals the purchase of GBP/USD.

Stochastic Oscillator is in the overbought zone, the %K line crosses the %D line. There are no signals at the moment.

Trading recommendations

Support levels: 1.33950, 1.33700, 1.33500

Resistance levels: 1.34600

If the statistics from the US turns out to be positive, we recommend considering sales of GBP/USD. The movement is tending potentially to 1.34000-1.33800.

Alternative option. If the price fixes above the local resistance of 1. 34600, further growth of GBP/USD is expected. The movement is tending potentially to the level of 1.35100.

The USD/CAD currency pair

Technical indicators of the currency pair:

Prev Open: 1.26820

Open: 1.26531

% chg. over the last day: -0.36

Day's range: 1.26051 – 1.26133

52 wk range: 1.2059 – 1.3795

Due to the fall of demand for the US dollar, there is a downtrend on the USD/CAD currency pair. Investors expect important economic reports from the United States. If the US statistics turns out to be positive, the correctional movement is not excluded.

The news feed on Canada's economy is calm today.

Indicators do not send accurate signals. The price has fixed below 50 MA and 200 MA, which indicates the power of sellers.

The MACD histogram is in the negative zone and continues to decline, which gives a signal to sell USD/CAD.

Stochastic Oscillator is in the oversold zone, the %K line is crossing the %D line. There are no signals at the moment.

Trading recommendations

Support levels: 1.26500, 1.27250, 1.27750

Resistance levels: 1.26000

If the statistics on the US economy is optimistic, the correction of the USD/CAD quotes is expected. The movement is tending potentially to 1.26600-1.26800.

An alternative may be a further drop in the USD/CAD currency pair to the level of 1.25600-1.25400.

The USD/JPY currency pair

Technical indicators of the currency pair:

Prev Open: 113.221

Open: 113.160

% chg. over the last day: -0.36

Day's range: 112.769 – 112.794

52 wk range: 99.53 – 118.67

Positive reports on the labor market of Japan were published in the Asian trading session. In this regard, the USD/JPY quotes have slightly decreased. At the moment, the technical pattern is ambiguous. The key support and resistance levels are 113.000 and 112.700, respectively. We recommend opening positions from the key support and resistance levels.

The news feed on Japan's economy is calm.

Indicators do not send accurate signals. The USD/JPY quotes have fixed below 50 MA and 200 MA, which indicates the power of sellers.

The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell USD/JPY.

Stochastic Oscillator is in the oversold zone, the %K line is crossing the %D line. There are no signals at the moment.

Trading recommendations

Support levels: 113.000, 113.300, 113.600

Resistance levels: 112.700

If the price fixes below 112.700, it is necessary to consider sales of USD/JPY. The movement is tending potentially to 112.400-112.200.

Alternative option. If the price fixes above the support level of 113.000, we expect the growth of the USD/JPY currency pair. The target movement level is 113.500.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer,
and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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